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Associated Press
30-04-2025
- Business
- Associated Press
Above Food Ingredients Inc. and Palm Global Technologies Advance Strategic Merger with Definitive Agreements Expected to be Signed Imminently
Regina, Saskatchewan--(Newsfile Corp. - April 30, 2025) - Above Food Ingredients Inc. (NASDAQ: ABVE) ('Above Food') today announced that it has reached agreement on essential terms and conditions for its proposed merger with Palm Global Technologies Ltd. ('Palm Global'), advancing the transformative acquisition first announced on February 6, 2025. The executive management team of Above Food has completed its comprehensive review of the proposed merger terms and structure, expressing strong support for this transformative combination. The Company's Board of Directors has received the management team's endorsement and is advancing the necessary corporate and regulatory approvals to facilitate the completion of definitive documentation. The Above Food executive management team travelled to the Emirates this week to conclude final diligence. Additionally, our leadership team attended a number of groundbreaking milestone events that further demonstrated the success that Palm Global is achieving on its global initiatives. 'This milestone solidifies the strong alignment between our organizations on both the vision and structure of this revolutionary merger,' commented Lionel Kambeitz, Founder and CEO of Above Food. 'Our management team strongly supports this combination with Palm Global, which we believe will create substantial value for our shareholders while accelerating our mission of building a more sustainable and inclusive global food system. Palm Global's revolutionary FinTech platform, built on proprietary AI, blockchain, and decentralized finance technologies, and impressive roster of global partnerships, creates an unprecedented go-to-market platform to transform global agriculture. The events we attended in person and the associated announcements expected over the coming days from Palm Global further solidifies our belief that this transaction will significantly enhance shareholder value. We will ensure our shareholders are updated on a timely basis on the exciting progress as they are announced by ourselves or Palm Global.' About Above Food Ingredients Inc. Above Food Ingredients Inc. (NASDAQ: ABVE) is an ingredient company that delivers products made with real, nutritious, flavorful ingredients produced with transparency. The Company's vision is to create a healthier world – one seed, one field, and one bite at a time. With a robust chain of custody of plant proteins, enabled by scaled operations and infrastructure in primary agriculture and processing, and proprietary seed development capabilities that leverage the power of artificial intelligence-driven genomics and agronomy, the Company delivers nutritious foods to businesses and consumers with traceability and sustainability. About Palm Global Palm Global is a next-generation innovator in financial inclusion, agri-tech, and sustainability, operating out of San Francisco, Dubai, Hong Kong, and Singapore. Utilizing AI, blockchain, and decentralized finance (DeFi) technologies. Palm Global delivers scalable solutions that drive economic empowerment and financial access for millions of farmers across Africa, Southeast Asia, and the Americas. By facilitating access to credit, insurance, and advanced agricultural technologies, through its platforms and super-apps, Palm Global supports sustainable growth and food security at scale. Through strategic partnerships with governments, global institutions, and NGOs, Palm Global is accelerating the adoption of digital solutions that transform global agriculture and strengthen financial resilience in underserved markets. The Palm Global website is available at Cautionary Statement Regarding Forward-Looking Statements This press release may contain 'forward-looking information' within the meaning of the United States federal securities laws and applicable Canadian securities laws. These forward-looking statements generally are identified by the words 'believe,' 'project,' 'expect,' 'anticipate,' 'estimate,' 'intend,' 'strategy,' future,' 'opportunity,' 'plan,' 'may,' 'should,' 'will,' 'could,' 'will be,' will continue,' and similar expressions and include, without limitation, statements about the ability of or expectations regarding the future performance of our business and operations. Forward-looking statements are based on the current expectations of the Company's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. You should carefully consider all of the risks and uncertainties described in the documents filed by the Company with the United States Securities and Exchange Commission, which is available on EDGAR at There may be additional risks that the Company presently does not know or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in forward-looking statements. In addition, forward-looking statements provide the Company's expectations, plans or forecasts of future events and views as of the date of this communication. The Company anticipates that subsequent events and developments will cause the Company's assessments to change. However, while the Company may elect to update these forward-looking statements in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's assessments as of any date subsequent to the date of this communication. Nothing herein should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results in such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Additional Information and Where to Find It: INVESTORS AND SECURITY HOLDERS OF ABOVE FOOD ARE URGED TO READ THE DOCUMENTS FILED WITH THE SEC, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ABOVE FOOD. Investors and security holders will be able to obtain free copies of the documents filed with the SEC by Above Food through the website maintained by the SEC at Copies of the documents filed with the SEC by Above Food are also be available free of charge on Above Food's website at or by contacting Above Food's Investor Relations Department at 2305 Victoria Ave #001, Regina, Saskatchewan, Canada, S4P 0S7. Contacts Media: [email protected] Investors: [email protected] To view the source version of this press release, please visit
Yahoo
30-04-2025
- Business
- Yahoo
Above Food Ingredients Inc. and Palm Global Technologies Advance Strategic Merger with Definitive Agreements Expected to be Signed Imminently
Regina, Saskatchewan--(Newsfile Corp. - April 30, 2025) - Above Food Ingredients Inc. (NASDAQ: ABVE) ("Above Food") today announced that it has reached agreement on essential terms and conditions for its proposed merger with Palm Global Technologies Ltd. ("Palm Global"), advancing the transformative acquisition first announced on February 6, 2025. The executive management team of Above Food has completed its comprehensive review of the proposed merger terms and structure, expressing strong support for this transformative combination. The Company's Board of Directors has received the management team's endorsement and is advancing the necessary corporate and regulatory approvals to facilitate the completion of definitive documentation. The Above Food executive management team travelled to the Emirates this week to conclude final diligence. Additionally, our leadership team attended a number of groundbreaking milestone events that further demonstrated the success that Palm Global is achieving on its global initiatives. "This milestone solidifies the strong alignment between our organizations on both the vision and structure of this revolutionary merger," commented Lionel Kambeitz, Founder and CEO of Above Food. "Our management team strongly supports this combination with Palm Global, which we believe will create substantial value for our shareholders while accelerating our mission of building a more sustainable and inclusive global food system. Palm Global's revolutionary FinTech platform, built on proprietary AI, blockchain, and decentralized finance technologies, and impressive roster of global partnerships, creates an unprecedented go-to-market platform to transform global agriculture. The events we attended in person and the associated announcements expected over the coming days from Palm Global further solidifies our belief that this transaction will significantly enhance shareholder value. We will ensure our shareholders are updated on a timely basis on the exciting progress as they are announced by ourselves or Palm Global." About Above Food Ingredients Inc. Above Food Ingredients Inc. (NASDAQ: ABVE) is an ingredient company that delivers products made with real, nutritious, flavorful ingredients produced with transparency. The Company's vision is to create a healthier world – one seed, one field, and one bite at a time. With a robust chain of custody of plant proteins, enabled by scaled operations and infrastructure in primary agriculture and processing, and proprietary seed development capabilities that leverage the power of artificial intelligence-driven genomics and agronomy, the Company delivers nutritious foods to businesses and consumers with traceability and sustainability. About Palm Global Palm Global is a next-generation innovator in financial inclusion, agri-tech, and sustainability, operating out of San Francisco, Dubai, Hong Kong, and Singapore. Utilizing AI, blockchain, and decentralized finance (DeFi) technologies. Palm Global delivers scalable solutions that drive economic empowerment and financial access for millions of farmers across Africa, Southeast Asia, and the Americas. By facilitating access to credit, insurance, and advanced agricultural technologies, through its platforms and super-apps, Palm Global supports sustainable growth and food security at scale. Through strategic partnerships with governments, global institutions, and NGOs, Palm Global is accelerating the adoption of digital solutions that transform global agriculture and strengthen financial resilience in underserved markets. The Palm Global website is available at Cautionary Statement Regarding Forward-Looking Statements This press release may contain "forward-looking information" within the meaning of the United States federal securities laws and applicable Canadian securities laws. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," future," "opportunity," "plan," "may," "should," "will," "could," "will be," will continue," and similar expressions and include, without limitation, statements about the ability of or expectations regarding the future performance of our business and operations. Forward-looking statements are based on the current expectations of the Company's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. You should carefully consider all of the risks and uncertainties described in the documents filed by the Company with the United States Securities and Exchange Commission, which is available on EDGAR at There may be additional risks that the Company presently does not know or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in forward-looking statements. In addition, forward-looking statements provide the Company's expectations, plans or forecasts of future events and views as of the date of this communication. The Company anticipates that subsequent events and developments will cause the Company's assessments to change. However, while the Company may elect to update these forward-looking statements in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's assessments as of any date subsequent to the date of this communication. Nothing herein should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results in such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Additional Information and Where to Find It: INVESTORS AND SECURITY HOLDERS OF ABOVE FOOD ARE URGED TO READ THE DOCUMENTS FILED WITH THE SEC, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ABOVE FOOD. Investors and security holders will be able to obtain free copies of the documents filed with the SEC by Above Food through the website maintained by the SEC at Copies of the documents filed with the SEC by Above Food are also be available free of charge on Above Food's website at or by contacting Above Food's Investor Relations Department at 2305 Victoria Ave #001, Regina, Saskatchewan, Canada, S4P 0S7. Contacts Media:media@ Investors:investors@ To view the source version of this press release, please visit Sign in to access your portfolio
Associated Press
20-03-2025
- Business
- Associated Press
Above Food Group Announces Strategic Restructuring to Accelerate Focus on Agri-Tech and Fin-Tech Sectors
Regina, Saskatchewan--(Newsfile Corp. - March 20, 2025) - Above Food Ingredients Inc. (NASDAQ: ABVE) ('the Company') announces today that as part of its strategic pivot towards the Agri-Tech and Fin-Tech sectors it has consented to the application filed by the Royal Bank of Canada to wind up the Company's Purely Canada Food Corp. subsidiaries ('PCFC'), which was filed on March 3, 2025 at the Court of King's Bench in Saskatchewan. Consequently, the Court on March 19, 2025, ordered that PCFC be placed into receivership. Since the summer of 2024, the Company has targeted new areas within the agricultural sector to significantly enhance its margins. The acquisition of Montana-based Stricks Ag in August 2024 was the initial step to this strategic plan, which is exceeding expectations and positively contributing to the profit margin of the Company. Additionally, the previously announced LOI to acquire Palm Global Technologies Inc. ('Palm Global') on January 31, 2025, is expected to provide significant opportunities to build upon the Company's current revenue run-rate of approximately $200 million CAD with Palm Global's higher-margin revenue stream. 'This restructuring represents a catalyst for Above Food Ingredients Inc. to refocus our resources toward scaled, higher-margin specialty ingredient businesses and broader opportunities across global markets,' said Lionel Kambeitz, Founder and Executive Chairman of Above Food Ingredients Inc. 'Combined with the opportunities provided by our intended acquisition of Palm Global, we will be introducing a powerful tech platform that merges our expertise in specialty crop processing, AI genomics and AI agronomy with Palm Global's FinTech, Tokenization and DeFi Technologies.' In light of these meaningful developments, the Board supported this strategic pivot, which aligns with the Company's core mission of creating shareholder value through a healthier, more sustainable global food system. With the completion of this receivership, the debts and liabilities of PCFC will no longer form part of the Company's consolidated financial statements, together with the elimination of over $25 million CAD of annual net losses. In addition, the corporate restructuring measures the Company is undertaking will result in the Company generating pre-tax profitability in the immediate future. With the intended acquisition of Palm Global, the combined company would be uniquely positioned to enable regenerative agricultural initiatives and grow-to-order food solutions tailored to evolving consumer and agricultural needs on a global scale, while supporting millions of farmers through Palm Global's financial inclusion platforms. About Above Food Ingredients Inc. Above Food Ingredients Inc. (NASDAQ: ABVE) is an ingredient company that delivers products made with real, nutritious, flavorful ingredients produced with transparency. The Company's vision is to create a healthier world - one seed, one field, and one bite at a time. With a robust chain of custody of plant proteins, enabled by scaled operations and infrastructure in primary agriculture and processing, and proprietary seed development capabilities that leverage the power of artificial intelligence-driven genomics and agronomy, the Company delivers nutritious foods to businesses and consumers with traceability and sustainability. Cautionary Statement Regarding Forward-Looking Statements This press release may contain 'forward-looking information' within the meaning of the United States federal securities laws and applicable Canadian securities laws. These forward-looking statements generally are identified by the words 'believe,' 'project,' 'expect,' 'anticipate,' 'estimate,' 'intend,' 'strategy,' future,' 'opportunity,' 'plan,' 'may,' 'should,' 'will,' 'could,' 'will be,' will continue,' and similar expressions and include, without limitation, statements about the ability of or expectations regarding the future performance of our business and operations. Forward-looking statements are based on the current expectations of the Company's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. You should carefully consider all of the risks and uncertainties described in the documents filed by the Company with the United States Securities and Exchange Commission, which is available on EDGAR at There may be additional risks that the Company presently does not know or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in forward-looking statements. In addition, forward-looking statements provide the Company's expectations, plans or forecasts of future events and views as of the date of this communication. The Company anticipates that subsequent events and developments will cause the Company's assessments to change. However, while the Company may elect to update these forward-looking statements in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's assessments as of any date subsequent to the date of this communication. Nothing herein should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results in such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Contacts Media: Investors:
